Apple is taking 93% of the profits in the smartphone industry now

Apple is basically the only company making money from smartphones anymore.

Every quarter, Canaccord Genuity analyst Michael Walkley takes a look at the state of the profits of smartphone companies. This quarter, Walkley found Apple had a record breaking 93% of the industry's profits.

Apple is always the leader, but for a short while, it looked like Samsung was going to catch Apple. Those days are long gone. Apple has blasted away from the pack.

Samsung's share of the industry's profits is down to 9%, its lowest point since 2008 as its profits crater. Samsung is under attack from Apple at the high end with the iPhone 6 and 6 Plus, which both have big screens.

It's also under attack at the low-end from cheap Chinese phone makers like Xiaomi. Walkley doesn't have Chinese phone maker Xiaomi in his table, saying, "since Xiaomi is a private company, we are unable to get their sales and profit metrics. If I could get their profit metrics, then I would certainly include."

Apple sold 74.5 million iPhones last quarter, generating roughly $12.6-$13.5 billion in profits.